Car leasing can be a great way to get a new car and have zero worries about repair bills. Here are some ten facts to know about car leasing.
1) Select a model that has reliability and is easy to resale. Rare and trendy cars tend to depreciate quickly. You will also pay for that depreciation.
2) Leasing always costs more than buying. So consider a car leasing agency with affordable prices that suite the model you desire.
3) Make sure to negotiate on the capitalization cost. Do some researches about the model you want then print out the price details. You can then visit a car leasing agent and get the model easily.
4) Ensure you are keen on the mileage. Most leases allow 12,000 miles per year. If you increase, you will end up paying $750 more.
5) Bargain for the best interest rate. Once you know the annual percentage interest rate (APR) you can bargain for a lower rate.
6) Car leasing companies will charge a lot of money if the car returns with major damages. Ensure to treat your car as an infant.
7) Ensure to buy GAP insurance from your insurance agent. This will save you money if the car is totaled.
8) Lease a car at the end of the year because you will get the best deals and negotiate or remove some fees.
9) Try to have a Closed-End Lease, meaning you return the car in perfect condition. You will not incur extra costs.
10) You can always opt for buying than car leasing. Leasing a car for 2-3 years may cost you $2,000 more than buying.
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